Restricted Online Casinos in Asia-Pacific region
Union Gaming expert Grant Goverczen published an analyst on the Asia-Pacific region, concerning the gambling industry. The specialist noted the prospective directions in which investors can invest in and where operators can expand their influence.
According to Goverczen, except for Macao and Singapore, gambling is actively developing in the Philippines and Japan. The Philippine market is the most attractive, because gambling is in demand among the local population and exists not only due to the influx of foreign tourists.
Relations between China and the Philippines after President Duteret came to power went into a cooling phase, which became an incentive for the development of gambling in the country. New casino resorts, such as Okada or Entertainment City, come off. The market is divided among four licensees, which contributes to the inflow of investment.
The analyst believes that if the relations between neighboring countries improve, the market will receive a new impulse of development due to the influx of Chinese tourists.
Among the industry favorites is Japan, legalized gambling in the past year. This market is very attractive for most operators and investors, but so far has a significant drawback: regulation has not yet found its final features. Laws that establish the size of tax collections and license fees, as well as business rules, have not yet been adopted.
Goverzen believes that gambling in Korea and Vietnam is in an uncertain position because of the huge number of demands and restrictions on gambling. The passed laws allow to conduct a gambling business only to local politically connected parties, as it happens in Vietnam. “These countries are not ready to fully legalize gambling and open markets for foreign investment,” Goverzen said.
Grant also pondered the fact that, if suddenly the relations between the neighboring countries are restored, the market will receive another push to develop due to the arrival of tourists from the territory of China.
A specialized analyst assumes that gambling is in a certain vague position in the Asia-Pacific region because of the large number of requirements and restrictions. And the long-accepted laws on gambling allow you to conduct such a gambling business only by local, politically connected parties. Goverzen noted that these countries are not completely ready for absolutely legalized gambling, for opening markets for investments of other countries.
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